-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, MOh/qgOLnYWwjnULMWe1xAifdAlt6Uvnz1hlwdSYhW9tDE4BYLOCA0J+hhaDCotG R0y8IqEQloN7MBp6vgIlhA== 0000950133-08-000122.txt : 20080111 0000950133-08-000122.hdr.sgml : 20080111 20080111110314 ACCESSION NUMBER: 0000950133-08-000122 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20080111 DATE AS OF CHANGE: 20080111 GROUP MEMBERS: CAMDEN PARTNERS STRATEGIC FUND III, L.P. GROUP MEMBERS: CAMDEN PARTNERS STRATEGIC FUND III-A, L.P. GROUP MEMBERS: CAMDEN PARTNERS STRATEGIC III, LLC GROUP MEMBERS: DAVID L. WARNOCK GROUP MEMBERS: DONALD W. HUGHES GROUP MEMBERS: RICHARD M. BERKELEY GROUP MEMBERS: RICHARD M. JOHNSTON GROUP MEMBERS: SHANE CORPORATION S.AR.L. GROUP MEMBERS: SHANE GP SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: CIBT Education Group Inc. CENTRAL INDEX KEY: 0001123870 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-EDUCATIONAL SERVICES [8200] IRS NUMBER: 000000000 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-83452 FILM NUMBER: 08525233 BUSINESS ADDRESS: STREET 1: 1200-777 WEST BROADWAY STREET 2: BC V5Z 4J7 CITY: VANCOUVER STATE: A1 ZIP: 00000 BUSINESS PHONE: 604-871-9909 MAIL ADDRESS: STREET 1: 777 WEST BROADWAY STREET 2: BC VANCOUVER V52 4J7 CITY: VANCOUVER STATE: A1 ZIP: V5Z 4J7 FORMER COMPANY: FORMER CONFORMED NAME: CAPITAL ALLIANCE GROUP INC DATE OF NAME CHANGE: 20000915 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: Camden Partners Strategic Manager, LLC CENTRAL INDEX KEY: 0001365552 IRS NUMBER: 341982328 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 500 E. PRATT STREET STREET 2: SUITE 1200 CITY: BALTIMORE STATE: MD ZIP: 21202 BUSINESS PHONE: 410-878-6800 MAIL ADDRESS: STREET 1: 500 E. PRATT STREET STREET 2: SUITE 1200 CITY: BALTIMORE STATE: MD ZIP: 21202 SC 13D/A 1 w46447sc13dza.htm AMENDMENT #1 TO SC 13D sc13dza
 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
CIBT Education Group Inc.
(Name of Issuer)
Common Shares
(Title of Class of Securities)
CA17163Y1025
(CUSIP Number)
Shane Corporation S.àr.l
c/o Camden Partners Holdings, LLC
500 East Pratt Street
Suite 1200
Baltimore, Maryland 21202
Attention: Donald W. Hughes
Tel: (410) 878-6800
(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)
January 7, 2008
(Date of Event which Requires Filing of This Statement)
If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), Rule 13d-1(f) or Rule 13d-1(g), check the following box o.
Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7 for other parties to whom copies are to be sent.
     
* The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 

 

                         
CUSIP No.
  
CA17163Y1025 
   Page  
2 
   of   
13 
   Pages

 

           
1   NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

Shane Corporation S.àr.l.
     
     
2   Check the Appropriate Box if a Member of a Group (See Instructions)
  (a)   o 
  (b)   þ 
     
3   SEC USE ONLY
   
   
     
4   SOURCE OF FUNDS (SEE INSTRUCTIONS):
   
  OO, WC
     
5   CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E):
   
  o
     
6   CITIZENSHIP OR PLACE OF ORGANIZATION:
   
  Luxembourg
       
  7   SOLE VOTING POWER:
     
NUMBER OF   11,191,837
       
SHARES 8   SHARED VOTING POWER:
BENEFICIALLY    
OWNED BY   0
       
EACH 9   SOLE DISPOSITIVE POWER:
REPORTING    
PERSON   11,191,837
       
WITH 10   SHARED DISPOSITIVE POWER:
     
    0
     
11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:
   
  11,191,837
     
12   CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS):
   
  þ
     
13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
   
  17.9%
     
14   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS):
   
  CO

 

                         
CUSIP No.
  
CA17163Y1025 
   Page  
3 
   of   
13 
   Pages

 

           
1   NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY).

Shane GP
     
     
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
  (a)   o 
  (b)   þ 
     
3   SEC USE ONLY
   
   
     
4   SOURCE OF FUNDS (SEE INSTRUCTIONS):
   
  AF, OO
     
5   CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E):
   
  o
     
6   CITIZENSHIP OR PLACE OF ORGANIZATION:
   
  Delaware
       
  7   SOLE VOTING POWER:
     
NUMBER OF   0
       
SHARES 8   SHARED VOTING POWER:
BENEFICIALLY    
OWNED BY   11,191,837
       
EACH 9   SOLE DISPOSITIVE POWER:
REPORTING    
PERSON   0
       
WITH 10   SHARED DISPOSITIVE POWER:
     
    11,191,837
     
11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:
   
  11,191,837
     
12   CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS):
   
  þ
     
13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
   
  17.9%
     
14   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS):
   
  PN

 

                         
CUSIP No.
  
CA17163Y1025 
   Page  
4 
   of   
13 
   Pages

 

           
1   NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

Camden Partners Strategic Fund III, L.P.
     
     
2   Check the Appropriate Box if a Member of a Group (See Instructions)
  (a)   o 
  (b)   þ 
     
3   SEC USE ONLY
   
   
     
4   SOURCE OF FUNDS (SEE INSTRUCTIONS):
   
  OO, WC
     
5   CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E):
   
  o
     
6   CITIZENSHIP OR PLACE OF ORGANIZATION:
   
  Delaware
       
  7   SOLE VOTING POWER:
     
NUMBER OF   0
       
SHARES 8   SHARED VOTING POWER:
BENEFICIALLY    
OWNED BY   11,291,837
       
EACH 9   SOLE DISPOSITIVE POWER:
REPORTING    
PERSON   0
       
WITH 10   SHARED DISPOSITIVE POWER:
     
    11,291,837
     
11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:
   
  11,291,837
     
12   CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS):
   
  þ
     
13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
   
  18.1%
     
14   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS):
   
  PN

 

                         
CUSIP No.
  
CA17163Y1025 
   Page  
5 
   of   
13 
   Pages

 

           
1   NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

Camden Partners Strategic Fund III-A, L.P.
     
     
2   Check the Appropriate Box if a Member of a Group (See Instructions)
  (a)   o 
  (b)   þ 
     
3   SEC USE ONLY
   
   
     
4   SOURCE OF FUNDS (SEE INSTRUCTIONS):
   
  OO, WC
     
5   CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E):
   
  o
     
6   CITIZENSHIP OR PLACE OF ORGANIZATION:
   
  Delaware
       
  7   SOLE VOTING POWER:
     
NUMBER OF   0
       
SHARES 8   SHARED VOTING POWER:
BENEFICIALLY    
OWNED BY   11,291,837
       
EACH 9   SOLE DISPOSITIVE POWER:
REPORTING    
PERSON   0
       
WITH 10   SHARED DISPOSITIVE POWER:
     
    11,291,837
     
11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:
   
  11,291,837
     
12   CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS):
   
  þ
     
13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
   
  18.1%
     
14   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS):
   
  PN

 

                         
CUSIP No.
  
CA17163Y1025 
   Page  
6 
   of   
13 
   Pages

 

           
1   NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

Camden Partners Strategic Manager, LLC
     
     
2   Check the Appropriate Box if a Member of a Group (See Instructions)
  (a)   o 
  (b)   þ 
     
3   SEC USE ONLY
   
   
     
4   SOURCE OF FUNDS (SEE INSTRUCTIONS):
   
  AF, OO
     
5   CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E):
   
  o
     
6   CITIZENSHIP OR PLACE OF ORGANIZATION:
   
  Delaware
       
  7   SOLE VOTING POWER:
     
NUMBER OF   0
       
SHARES 8   SHARED VOTING POWER:
BENEFICIALLY    
OWNED BY   11,291,837
       
EACH 9   SOLE DISPOSITIVE POWER:
REPORTING    
PERSON   0
       
WITH 10   SHARED DISPOSITIVE POWER:
     
    11,291,837
     
11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:
   
  11,291,837
     
12   CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS):
   
  þ
     
13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
   
  18.1%
     
14   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS):
   
  OO

 

                         
CUSIP No.
  
CA17163Y1025 
   Page  
7 
   of   
13 
   Pages

 

           
1   NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

Camden Partners Strategic III, LLC
     
     
2   Check the Appropriate Box if a Member of a Group (See Instructions)
  (a)   o 
  (b)   þ 
     
3   SEC USE ONLY
   
   
     
4   SOURCE OF FUNDS (SEE INSTRUCTIONS):
   
  AF, OO
     
5   CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E):
   
  o
     
6   CITIZENSHIP OR PLACE OF ORGANIZATION:
   
  USA
       
  7   SOLE VOTING POWER:
     
NUMBER OF   0
       
SHARES 8   SHARED VOTING POWER:
BENEFICIALLY    
OWNED BY   11,291,837
       
EACH 9   SOLE DISPOSITIVE POWER:
REPORTING    
PERSON   0
       
WITH 10   SHARED DISPOSITIVE POWER:
     
    11,291,837
     
11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:
   
  11,291,837
     
12   CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS):
   
  þ
     
13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
   
  18.1%
     
14   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS):
   
  OO

 

                         
CUSIP No.
  
CA17163Y1025 
   Page  
8 
   of   
13 
   Pages

 

           
1   NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

Richard M. Berkeley
     
     
2   Check the Appropriate Box if a Member of a Group (See Instructions)
  (a)   o 
  (b)   þ 
     
3   SEC USE ONLY
   
   
     
4   SOURCE OF FUNDS (SEE INSTRUCTIONS):
   
  AF, OO
     
5   CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E):
   
  o
     
6   CITIZENSHIP OR PLACE OF ORGANIZATION:
   
  Delaware
       
  7   SOLE VOTING POWER:
     
NUMBER OF   0
       
SHARES 8   SHARED VOTING POWER:
BENEFICIALLY    
OWNED BY   11,291,837
       
EACH 9   SOLE DISPOSITIVE POWER:
REPORTING    
PERSON   0
       
WITH 10   SHARED DISPOSITIVE POWER:
     
    11,291,837
     
11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:
   
  11,291,837
     
12   CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS):
   
  þ
     
13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
   
  18.1%
     
14   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS):
   
  IN

 

                         
CUSIP No.
  
CA17163Y1025 
   Page  
9 
   of   
13 
   Pages

 

           
1   NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

Donald W. Hughes
     
     
2   Check the Appropriate Box if a Member of a Group (See Instructions)
  (a)   o 
  (b)   þ 
     
3   SEC USE ONLY
   
   
     
4   SOURCE OF FUNDS (SEE INSTRUCTIONS):
   
  AF, OO
     
5   CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E):
   
  o
     
6   CITIZENSHIP OR PLACE OF ORGANIZATION:
   
  USA
       
  7   SOLE VOTING POWER:
     
NUMBER OF   0
       
SHARES 8   SHARED VOTING POWER:
BENEFICIALLY    
OWNED BY   11,291,837
       
EACH 9   SOLE DISPOSITIVE POWER:
REPORTING    
PERSON   0
       
WITH 10   SHARED DISPOSITIVE POWER:
     
    11,291,837
     
11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:
   
  11,291,837
     
12   CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS):
   
  þ
     
13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
   
  18.1%
     
14   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS):
   
  IN

 

                         
CUSIP No.
  
CA17163Y1025 
   Page  
10 
   of   
13 
   Pages

 

           
1   NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

Richard M. Johnston
     
     
2   Check the Appropriate Box if a Member of a Group (See Instructions)
  (a)   o 
  (b)   þ 
     
3   SEC USE ONLY
   
   
     
4   SOURCE OF FUNDS (SEE INSTRUCTIONS):
   
  AF, OO
     
5   CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E):
   
  o
     
6   CITIZENSHIP OR PLACE OF ORGANIZATION:
   
 
       
  7   SOLE VOTING POWER:
     
NUMBER OF   0
       
SHARES 8   SHARED VOTING POWER:
BENEFICIALLY    
OWNED BY   11,291,837
       
EACH 9   SOLE DISPOSITIVE POWER:
REPORTING    
PERSON   0
       
WITH 10   SHARED DISPOSITIVE POWER:
     
    11,291,837
     
11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:
   
  11,291,837
     
12   CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS):
   
  þ
     
13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
   
  18.1%
     
14   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS):
   
  IN

 

                         
CUSIP No.
  
CA17163Y1025 
   Page  
11 
   of   
13 
   Pages

 

           
1   NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

David L. Warnock
     
     
2   Check the Appropriate Box if a Member of a Group (See Instructions)
  (a)   o 
  (b)   þ 
     
3   SEC USE ONLY
   
   
     
4   SOURCE OF FUNDS (SEE INSTRUCTIONS):
   
  AF, OO
     
5   CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E):
   
  o
     
6   CITIZENSHIP OR PLACE OF ORGANIZATION:
   
  USA
       
  7   SOLE VOTING POWER:
     
NUMBER OF   0
       
SHARES 8   SHARED VOTING POWER:
BENEFICIALLY    
OWNED BY   11,291,837
       
EACH 9   SOLE DISPOSITIVE POWER:
REPORTING    
PERSON   0
       
WITH 10   SHARED DISPOSITIVE POWER:
     
    11,291,837
     
11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:
   
  11,291,837
     
12   CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS):
   
  þ
     
13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
   
  18.1%
     
14   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS):
   
  IN

 

Page 12 of 13 Pages
This Amendment No. 1 to Schedule 13D (“Amendment No. 1”) relating to CIBT Education Group Inc., a (the “Issuer”), is being filed on behalf of the undersigned to amend the Schedule 13D filed with the Commission on December 18, 2007 (the “Schedule 13D”). Capitalized terms used and not defined herein have the same meaning as in the Schedule 13D. Except as provided herein, this Amendment does not modify any of the information previously reported on the Schedule 13D.
ITEM 2. IDENTITY AND BACKGROUND
The following is hereby added as the last sentence of the second paragraph of Item 2(a):
     Effective December 19, 2007 Mr. Warnock and Mr. Jack Brozman were appointed to the Board of Directors of the Issuer as the designees of Shane Corporation.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
The following is hereby added as the second and third paragraphs of Item 3:
     On January 7, 2008, Shane Corporation acquired for aggregate consideration of US$1,500,000 pursuant to the Subscription (defined in Item 6 below) 794,558 Common Shares and warrants entitling the holder to purchase an additional 397,279 Common Shares at a price of C$2.25 per share for a period of two years (the “Warrants”). Funds used for paying such consideration were provided to Shane Corporation in a subscription for preferred equity certificates Shane Corporation issued to Shane GP. Funds used for the subscription by Shane GP were provided by CPS III and CPS III-A from working capital in proportion to their respective interests in Shane GP.
     On April 9, 2007, CPS III and CPS III-A purchased 96,010 and 3,990 Common Shares, respectively, from entities affiliated with certain of the Reporting Persons. Each of the purchases by the Funds was made from working capital in private transactions for aggregate consideration of $103,663. Such 100,000 Common Shares and these transactions were inadvertently omitted from the Schedule 13D.
ITEM 4. PURPOSE OF TRANSACTION
The first two sentences of Item 4 are hereby replaced in their entirety with the following:
     Shane Corporation and the Funds acquired the Issuer’s securities currently held by them for investment purposes. Depending on market conditions, a continuing evaluation of the business and prospects of the Issuer and other factors, any of Shane Corporation or the Funds may determine to dispose of or acquire additional securities of the Issuer or dispose of the securities of the Issuer then held.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
The first sentence of Item 5(a)-(b) is hereby replaced in its entirety with the following:

 

 

Page 13 of 13 Pages
     Shane Corporation is the record owner of 10,794,558 Common Shares and 397,279 Warrants (the “Securities”). Such securities represent beneficial ownership of 17.9%, which percentage is calculated based upon 62,022,804 Common Shares issued and outstanding on January 7, 2008 as reported by the Issuer’s transfer agent.
The following is hereby added as the fourth paragraph of Item 5(a)-(b):
     CPS III and CPS III-A are the record owners of 96,010 and 3,990 Common Shares, respectively (collectively, the “Funds’ Shares”). As a result of the relationships described in Item 2(a) above, each of the Reporting Persons other than Shane Corporation and Shane GP may be deemed to own beneficially the Funds’ Shares. Each of Shane Corporation, Shane GP, CPS III, CPSM and the Managing Members disclaims beneficial ownership of the Funds’ Shares, except to the extent of their respective pecuniary interest therein (if any). Since each of the other Reporting Persons (other than Shane Corporation and Shane GP) may be deemed to own beneficially the Funds’ Shares, they may each be deemed to have shared voting and dispositive power with respect to the Funds’ Shares.
ITEM 6.   CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO SECURITIES OF THE ISSUER
The fourth paragraph of Item 6 is hereby replaced in its entirety with the following:
     Pursuant to a subscription agreement between the Issuer and Shane Corporation, Shane Corporation subscribed for and the Issuer accepted a subscription for Units of the Issuer in a private placement for aggregate consideration of US$1,500,000 (the “Subscription”). Each Unit has a purchase price of C$1.90 per Unit. Each Unit consists of one Common Share and one-half of a Warrant. If the Common Shares trade at a price of C$3.38 or higher for 120 consecutive trading days at any time following issuance of the Warrant, then at the Issuer’s election, any unexercised Warrants will automatically expire on the 30th day following the delivery of written notice of such election to the holders of the Warrant. References herein to “C$” mean Canadian dollars.
     Pursuant to stock purchase agreements dated as of April 9, 2007, CPS III and CPS III-A purchased the Funds’ Shares in private transactions. Such 100,000 Common Shares and these transactions were inadvertently omitted from the Schedule 13D.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
Exhibit 1 — Agreement regarding filing of joint Schedule 13D (incorporated by reference to Exhibit 1 to the Schedule 13D filed by the Reporting Persons on December 18, 2007).

 

 

SIGNATURE
     After reasonable inquiry and to the best of the knowledge and belief of each of the undersigned, each of the undersigned certifies that the information set forth in this statement is true, complete and correct.
Dated: January 11, 2008
         
SHANE CORPORATION S.ÀR.L    
 
        
By:
    /s/ David L. Warnock    
 
       
Name:
  David L. Warnock    
Title:
  Manager    
 
        
 
        
SHANE GP    
 
By:
  Camden Partners Strategic Fund III, L.P., and    
 
  Camden Partners Strategic Fund III, L.P., its partners    
 
        
By:
  Camden Partners Strategic III, LLC,    
 
  their General Partner    
 
        
By:
  Camden Partners Strategic Manager, LLC,    
 
  its Managing Member    
 
        
By:
    /s/ Donald W. Hughes    
 
       
Name:
  Donald W. Hughes    
Title:
  Managing Member    
 
        
CAMDEN PARTNERS STRATEGIC FUND III, L.P.    
 
By:
  Camden Partners Strategic III, LLC,    
 
  its General Partner    
 
        
By:
  Camden Partners Strategic Manager, LLC,    
 
  its Managing Member    
 
        
By:
    /s/ Donald W. Hughes    
 
       
Name:
  Donald W. Hughes    
Title:
  Managing Member    

 

 

         
CAMDEN PARTNERS STRATEGIC FUND III-A, L.P.    
 
By:
  Camden Partners Strategic III, LLC,    
 
  its General Partner    
 
        
By:
  Camden Partners Strategic Manager, LLC,    
 
  its Managing Member    
 
        
By:
    /s/ Donald W. Hughes    
 
       
Name:
  Donald W. Hughes    
Title:
  Managing Member    
 
        
CAMDEN PARTNERS STRATEGIC III, LLC    
 
        
By:
  Camden Partners Strategic Manager, LLC,    
 
  its Managing Member    
 
        
By:
    /s/ Donald W. Hughes    
 
       
Name:
  Donald W. Hughes    
Title:
  Managing Member    
 
        
CAMDEN PARTNERS STRATEGIC MANAGER, LLC    
 
By:
    /s/ Donald W. Hughes    
 
       
Name:
  Donald W. Hughes    
Title:
  Managing Member    
 
        
         
/s/ Donald W. Hughes
 
Donald W. Hughes, an Individual
     
 
        
/s/ Donald W. Hughes,  Attorney-in-Fact
        
     
Richard M. Johnston, an Individual
        
 
        
/s/ Donald W. Hughes,  Attorney-in-Fact
        
     
David L. Warnock, an Individual
        
 
        
/s/ Donald W. Hughes,  Attorney-in-Fact
        
     
Richard M. Berkeley, an Individual
        

 

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